Referendum 2015

Tax Impact

Estimated Tax Impact

The May 5 facilities referendum is for a 21-year facilities bond of $124.9 million. The estimated annual tax impact on an average Edina residence ($400,000 value) is $299. The table below shows monthly and annual tax impact for a number of other residential values.

For a more exact tax impact estimate on your property, visit the Tax Calculator.

To see additional tax information, including estimated tax impact on commercial/industrial properties, and apartments and residential non-homestead properties, click here.

Taxable

Market Value

Estimated Monthly

Tax Impact

(payable in 2016)

Estimated Annual

Tax Impact

(payable in 2016)

$200,000

$11.33

$136

$250,000

$14.66

$176

$300,000

$18.08

$217

$350,000

$21.50

$258

$400,000

$24.92

$299

$441,500*

$27.58

$331

$450,000

$28.17

$338

$500,000

$31.25

$375

$600,000

$39.09

$469

$700,000

$46.92

$563

$800,000

$54.67

$656

$900,000

$62.50

$750

$1,000,000

$70.33

$844

$2,000,000

$148.42

$1,781

* median value home in Edina Public Schools

NOTE: The figures in the table above are based on school district taxes for the proposed capital and debt levies only, and do not include tax levies for other purposes. Tax increases shown above are gross increases, no including the impact of the state Property Tax Refund ("Circuit Breaker") program. Some owners of homestead property will qualify for a refund based on their income and total property taxes. This will decrease the new tax increase for some property owners.

Tax Calculator

For an estimate of how the proposed referendum would affect your property taxes, clickHEREto access a property tax calculator.